VendAsta Raises $3 Million From Victoria Park Capital To Build Home Improvement Social Network
VendAsta Technologies, Inc. is planning on building a social network called MyFrontSteps.com. The social network will have a major focus on the home improvement industry. MyFrontSteps will allow users to share their home and home experiences with other users starting from the front steps.
“In the short and medium term the Internet has had an underwhelming effect on the real estate and home services industry,” stated Brendan King, CEO of MyFrontSteps. “To clarify, there are a lot of agents, brokers, contractors, developers – you name it – that have done just fine with traditional marketing and referrals. However, in the long term the Internet will have an overwhelming impact on this very same industry. These same players will not continue to be able to effectively function going forward in the next few years without embracing Web 2.0 techniques. MyFrontSteps and StepRep will allow their customers to showcase their products and services via online social networks.”
VendAsta has raised $3 million in funding from Victoria Park Capital to build MyFrontSteps and StepRep. MyFrontSteps users will have the opportunity to give online referrals to services that they have used for their home and StepRep will allow those service companies to monitor their online brand.
VendAsta is using the funding to hire software development teams to work at their office Saskatoon’s Innovation Place in Saskatchewan, Canada.@amitchowdhry or on Google+ at +AmitChowdhry